Analysts at UBS AG boosted their price objective on shares of Aruba Networks (NASDAQ:ARUN) from $17.00 to $18.00 in a research report issued to clients and investors on Friday, Analyst Ratings Network.com reports. The firm currently has a “neutral” rating on the stock. UBS AG’s target price points to a potential upside of 3.21% from the stock’s previous close.
Aruba Networks (NASDAQ:ARUN) traded down 0.74% on Friday, hitting $17.44. 3,228,967 shares of the company’s stock traded hands. Aruba Networks has a one year low of $12.38 and a one year high of $26.78. The stock has a 50-day moving average of $17.83 and a 200-day moving average of $19.60. The company’s market cap is $1.992 billion. Aruba Networks also saw some unusual options trading activity on Friday. Traders bought 4,179 put options on the company. This is an increase of 309% compared to the average daily volume of 1,021 put options.
Aruba Networks (NASDAQ:ARUN) last announced its earnings results on Thursday, August 22nd. The company reported $0.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.11 by $0.01. The company had revenue of $153.10 million for the quarter, compared to the consensus estimate of $149.33 million. During the same quarter last year, the company posted $0.18 earnings per share. Aruba Networks’s revenue was up 10.0% compared to the same quarter last year. Analysts expect that Aruba Networks will post $0.67 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Pacific Crest raised their price target on shares of Aruba Networks from $18.00 to $20.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at FBN Securities raised their price target on shares of Aruba Networks from $15.00 to $20.00 in a research note to investors on Friday. They now have a “sector perform” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Aruba Networks from $13.00 to $16.00 in a research note to investors on Friday. They now have a “hold” rating on the stock.
One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $25.52.
In other Aruba Networks news, EVP G Michael Kirby sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.25, for a total value of $365,000.00. Following the sale, the executive vice president now directly owns 704,202 shares of the company’s stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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